Piper Sandler Reiterates Overweight Rating for Intuit (NASDAQ:INTU)

Intuit (NASDAQ:INTU)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $785.00 price objective on the software maker’s stock, up from their previous price objective of $765.00. Piper Sandler’s price objective would indicate a potential upside of 30.74% from the company’s current price.

Other analysts have also issued reports about the company. Stifel Nicolaus decreased their target price on Intuit from $795.00 to $725.00 and set a “buy” rating for the company in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. StockNews.com raised Intuit from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Oppenheimer boosted their price objective on Intuit from $712.00 to $722.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price objective on shares of Intuit in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $717.88.

Intuit Stock Performance

Shares of Intuit stock opened at $600.42 on Wednesday. Intuit has a one year low of $553.24 and a one year high of $714.78. The firm has a market capitalization of $168.07 billion, a price-to-earnings ratio of 58.29, a PEG ratio of 2.85 and a beta of 1.24. The business has a 50-day simple moving average of $606.49 and a 200 day simple moving average of $627.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.24 and a quick ratio of 1.24.

Insider Activity at Intuit

In related news, insider Scott D. Cook sold 73,655 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $664.94, for a total value of $48,976,155.70. Following the transaction, the insider now owns 6,301,286 shares in the company, valued at approximately $4,189,977,112.84. This represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Laura A. Fennell sold 4,788 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $613.62, for a total value of $2,938,012.56. Following the completion of the transaction, the executive vice president now owns 30,010 shares in the company, valued at approximately $18,414,736.20. The trade was a 13.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 218,014 shares of company stock worth $140,855,687. Insiders own 2.68% of the company’s stock.

Hedge Funds Weigh In On Intuit

Several institutional investors have recently bought and sold shares of INTU. R Squared Ltd bought a new stake in Intuit during the 4th quarter valued at $25,000. NewSquare Capital LLC raised its holdings in Intuit by 72.0% during the 4th quarter. NewSquare Capital LLC now owns 43 shares of the software maker’s stock valued at $27,000 after acquiring an additional 18 shares during the period. Heck Capital Advisors LLC bought a new stake in Intuit during the 4th quarter valued at $28,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Intuit during the 4th quarter valued at $28,000. Finally, Summit Securities Group LLC bought a new stake in Intuit during the 4th quarter valued at $28,000. Hedge funds and other institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.